Interim Management and Services

Increasingly, companies have to face challenges that require quick responses. Interim Managers are able to successfully cope with change and crisis, thanks to their in-depth experience in similar contexts and situations.

The Interim Manager lead the company in positive phases such as: growth, development of new businesses / new markets; and negative phases such as industrial, economic and financial restructuring, ensuring continuity within the organisation.

TIM Management Interim Managers can be integrated in the company’s organisation in just few weeks, immediately taking full responsibility for operational management. The Interim Manager best suited to the project is selected, together with the customer, and contracted by TIM Management who recruit them the company, adopting a consultancy contract. TIM Management provides tutoring, including a Senior Partner support, to the Interim Manager, during the introduction phase, and periodic monitoring of the project.

 

 ADVANTAGES FOR THE COMPANY 

•  Top management competencies by an expert specialist resource
•   A manager who is available quickly and immediately operative
•   Growing managerial skills within the company
•   Contract duration in line with company needs
  • Short projects, between 9 and 12 months
  • Projects lasting up to 18/36 months, in case of restructuring and relaunching

•   Set and limited costs over time
•   Possibility of interruption without significant costs
•   Ability to operate on a full-time or part-time assignment

 

Restructuring and Turnaround  

TIM Management has extensive management experience in situations of industrial and financial restructuring and is available to support the company in the development and management of the project. We are able to successfully tackle Restructuring and Turnaround projects, thanks to our multifunctional teams led by experienced Senior Partners.

Our restructuring projects frequently require industrial restructuring and must be addressed by teams that include very different skills, all provided by TIM Management:

• Industry skills: the companies to be restructured show large gaps compared to the best competitors. The key to a successful intervention is identifying these gaps and implement the necessary changes.
• Industry reorganisational skills: the turnaround process always involves structural organisational changes where implementation requires the temporary intervention of managers with specific trade union management skills.
• Financial restructuring skills: industrial restructuring is often accompanied by financial restructuring. In this case, it is advisable to recruit resources who have already experienced similar situations i.e.:
  • Management of liquidity stress and cash flow
  • Professional relationship with creditors (suppliers, banks, revenue agency, etc.) in crisis situations.
  • Good knowledge of crisis management tools and common bankruptcy procedures.

Few TIM Management Partners have extensive management experience in situations of financial stress and have a certified professional knowledge of applicable legal norms (art. 67, 182 bis, agreement, negotiated composition, etc.)

For the Negotiated Composition of Crisis, TIM Management can offer independent resources with suitable skills, taking responsibility for the recovery process (Chief Restructuring Officer – CRO). The appointment of these resources is highly recommended to ensure the credibility of the Recovery Plan and when restoration is envisaged for the benefit of creditors on the achievement of income or financial results (earn out).

Over time, relationships of trust have been built with professional investors, specialised in turnaround situations, who, if required, are willing to consider investing in projects managed by TIM and its partners.

 

Discontinuities 

In cases of considerable discontinuity and change, it is particularly important for the company to recruit resources with appropriate skills who have successfully undergone similar processes. TIM Management Managers and Partners are fit for the challenge of non-recurring business phases, characterised by a high discontinuity, such as:

• Post-acquisition integration: these are very delicate activities because they involve business re-organization but also important psychological elements that can be critical. Recruiting managers who have already experienced integration projects, is a key success factor and a guarantee of long term success for the buyer.
• Internationalization: for many Italian companies it is compulsory for survival in the medium/long term. In order to successfully face the challenge, it is key to involve resources who have already experienced internationalization more than once and who have significant experience in international markets.
• Succession: a difficult time in the life of a family business. An external manager who not only supports the company and property, but may also offer tutoring services can be key.
• Finding a key manager: finding a manager in a strategic role can be difficult, and the most qualified resources aren’t always  available for a new assignment. In these cases, recruiting an experienced Interim Manager can help the company to safely find and select the most suitable ‘permanent’, motivated resource.

 

 Private Equity Services (Operating Partner) 

TIM Management is called on by Private Equity companies in the event of:

• Need to fill specific managerial roles, fast
• Non-performing investments requiring industrial or financial restructuring

TIM Management also offers the position of “Operating Partner”, i.e. Managers focused on specific sectors for support in the pre-analysis of opportunities, the acquisition process and the possible build up.

TIM Management Operating Partners can be involved from the initial phase of project study by participating in:

• Evaluation of the investment opportunity and preparation of the action plan based on the business plan, with particular focus on growth-value areas.
• Support in the business due diligence phase.
• Post-acquisition recruitment of the managerial resources needed for the implementation of the business plan.
• Delivery of the project through monitoring of management performance and revise of the Business Plan, adapting to the changes in the scenario.

 

Executive Search 

We support Clients in the search for senior executives, function managers and independent directors, thanks to TIM Management’s Partnership with StrategicPeople an Executive Search leading company in Italy, which povides effective executive search service.

 

IPO e Capital Advisory 

The IPO (Initial Public Offering) ADVISORY consists of a high-profile consultancy, dedicated to companies that intend to access the capital market through listing on the markets managed by Borsa Italiana. The Advisor supports the company during the listing process, from the point of view of relations with the bodies responsible for IPO and Governance, Management Control and Operations and the development of Finance. The Capital Advisory service, through a similar process, can prepare the company for the entry of new financial partners.